Highlights
- Small caps have been stubbornly underperforming large-caps, leaving us with a lingering concern that our bullish call is not yet fully supported by the evidence on hand.
- In this note, we highlight a few significant headwinds that might be the cause for why small caps are struggling.
- The take away for us is that we remain mostly exposed to mid- and upper mid-cap names, and will seek to raise exposure to smaller caps should they trigger favorably in our work.
- While. . .
